DONNELL JON M 4
4 · AVATAR HOLDINGS INC · Filed Jan 4, 2011
Insider Transaction Report
Form 4
DONNELL JON M
DirectorPRESIDENT AND CEO
Transactions
- Other
RESTRICTED COMMON STOCK
2010-12-31+10,000→ 300,000 total - Tax Payment
COMMON STOCK
2010-12-31$19.82/sh−3,645$72,244→ 6,355 total
Footnotes (3)
- [F1]Of the 310,000 Restricted Shares of Common Stock (the "Shares") awarded to the Reporting Person pursuant to the terms of that certain Employment Agreement dated as of October 19, 2010 between the Issuer and the Reporting Person (the "Agreement"), 70,000 Shares are time based awards; 10,000 of which vested December 31, 2010. 300,000 Restricted Shares of Issuer's Common Stock awarded to the Reporting Person remain subject to the time and performance conditions set forth in the Agreement.
- [F2]The zero (0) in this column is a "dummy" amount, solely for the purpose of permitting the use of a descriptive footnote stating that the price is not applicable.
- [F3]Represents 3,645 shares of the Issuer's Common Stock withheld by Issuer in payment of Reporting Person's tax liability upon the removal of time-based restrictions on 10,000 shares of Issuer's Common Stock at a price of $19.82 per share. The Reporting Person owns 6,355 unrestricted shares of Issuer's Common Stock as of December 31, 2010.